Notandas Realty has entered into a redevelopment agreement for Mon Bijou, a residential property in Bandra West, Mumbai, with the developer planning an investment of around INR 100 crore in the project. 
The development is located in the established residential belt around Carter Road and Perry Road, an area where redevelopment has become an important route for adding new housing stock amid limited availability of large development parcels. The project will involve replacing the existing residential property with a new development designed for the premium housing segment. 
The redevelopment site measures approximately 788 sq m and is expected to have a construction area of about 4,914 sq m. The planned development will comprise a residential tower with luxury homes and associated lifestyle amenities. 
The project is being taken up under a redevelopment arrangement with the existing housing society. Such agreements allow developers to undertake construction on established residential plots while providing existing occupants with redeveloped homes, subject to the terms agreed between the society and developer. 
For Notandas Realty, the Mon Bijou project adds another redevelopment opportunity to its Mumbai portfolio. The company has previously pursued projects in premium western suburbs, where the redevelopment of older residential buildings has become a significant source of new development potential. 
Bandra West remains one of Mumbai's established high-value residential markets, supported by its access to commercial districts, social infrastructure, retail destinations and the city's western transport network. The neighbourhood's established character and constrained availability of vacant land have encouraged developers to look towards redevelopment rather than relying solely on greenfield opportunities. 
The Mon Bijou project also comes at a time when Mumbai's premium residential market continues to see developers target well-located redevelopment sites. Older buildings and housing societies can provide access to land parcels in neighbourhoods where acquiring undeveloped land is difficult or prohibitively expensive. 
The economics of redevelopment in such locations depend on several factors, including the size and configuration of the plot, permissible development potential, construction costs, the existing occupants' requirements and the achievable selling prices for the new homes. Developers also need to account for the time required to complete approvals, vacate and rehabilitate existing residents, construct the new building and hand over the redeveloped premises. 
For the existing residents of Mon Bijou, the redevelopment agreement is expected to facilitate the replacement of the existing residential structure with a new building while allowing them to remain part of the redeveloped project under the agreed terms. 
The proposed project is also significant from a supply perspective. A new residential development on an established Bandra West site can add premium housing without requiring the conversion of a new peripheral land parcel for urban development. This makes redevelopment an increasingly important component of Mumbai's residential supply, particularly in mature neighbourhoods. 
The INR 100 crore investment represents the developer's planned capital commitment to the project and indicates the scale of expenditure required to execute a premium redevelopment in one of Mumbai's established residential markets. The eventual project economics will depend on construction costs, development timelines and the value realised from the sale component. 
Notandas Realty's move adds to a wider redevelopment cycle across Bandra West, where ageing buildings and established housing societies are attracting developers seeking opportunities in premium locations. The trend is reshaping parts of the suburb's built environment as older structures are gradually replaced by newer residential developments. 
With the Mon Bijou agreement now in place, the project will progress through the necessary approvals and redevelopment stages before construction can advance. Its execution will determine how the proposed investment translates into new residential supply in one of Mumbai's most closely watched housing markets.